The next oil major? Service firm Schlumberger's big bet on production

HOUSTON (Reuters) - The world’s largest oilfield services company, Schlumberger NV (SLB.N), is spending billions of dollars buying stakes in its customers’ oil and gas projects - investing in the same ventures it supplies with equipment and expertise.

The new business model gives Schlumberger a say in drilling decisions, oilfield management and even on hiring other Schlumberger units for service contracts, the company has told investors.